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of <h1>Business Loss Carry Forward Rules Streamlined: Enhanced Tax Planning Provisions Align Modern Economic Needs with Fiscal Flexibility</h1> Concise Legal Summary:The document analyzes business loss carry forward provisions in the Income Tax Bill, 2025 (Clause 112) compared to the Income Tax Act, 1961 (Section 72). Both provisions allow taxpayers to carry forward unabsorbed business losses for eight years, excluding speculation losses. The provisions prioritize setting off business losses before other allowances, facilitating tax planning and supporting business continuity. Key differences include enhanced definitional clarity in the new bill, with consistent core principles maintaining taxpayer-friendly approaches to managing tax liabilities across multiple financial years.
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